AACG - ATA Creativity Global trades lower post Q4 results

ATA Creativity Global ([[AACG]] -2.1%) reports Q4 net revenues of RMB60.8M, primarily driven by revenues from portfolio training services, compared to RMB54.1M Y/Y.Revenues from portfolio training programs were 67.1% of total net revenues and from overseas study counselling services, other educational services and the K-12 business were 32.9%.Gross margin improved 990 bps to 48.5%During Q4, enrollment in portfolio training programs remained strong at 636, which was an increase of 8.7% Y/Y, despite a decrease in credit hours delivered by ~13% to 45,434 mainly due to the ongoing COVID-19 pandemic.Throughout 2020, the Company repurchased 450,337 ADSs at an average stock price of $1.2631.As of Dec. 31, 2020, ACG’s cash and equivalents were RMB112.7M, working capital deficit was RMB153.9M, and total shareholders’ equity was RMB199.2M.“We will continue to explore the potential of new offerings and are proud to have found opportunities to increase our growth prospects in the extremely unusual year of 2020. We

For further details see:

ATA Creativity Global trades lower post Q4 results